Quarterly ResultApr 30, 2026, 04:25 PM
AXTI Q1 Revenue $26.9M, Net Loss $1.6M; $632.5M Capital Raise
AI Summary
AXT, Inc. announced strong financial results for the first quarter of 2026, with revenue increasing to $26.9 million and a significant improvement in GAAP gross margin to 29.6%. The company also reported a reduced GAAP net loss of $1.6 million. Additionally, AXT completed a $632.5 million capital raise to fund the expansion of its Tongmei subsidiary's indium phosphide capacity and R&D, while Tongmei's STAR Market IPO application continues to progress.
Key Highlights
- Q1 2026 Revenue was $26.9 million, up from $19.4 million in Q1 2025 and $23.0 million in Q4 2025.
- GAAP gross margin for Q1 2026 was 29.6%, significantly up from (6.4)% in Q1 2025 and 20.9% in Q4 2025.
- GAAP net loss for Q1 2026 was $1.6 million, or $0.03 per share, compared to $8.8 million ($0.20 per share) in Q1 2025.
- Non-GAAP net loss for Q1 2026 was $0.6 million, or $0.01 per share, compared to $8.2 million ($0.19 per share) in Q1 2025.
- Completed a capital raise of $632.5 million to support Tongmei's indium phosphide capacity expansion and R&D.
- Tongmei's STAR Market IPO application is under review by the CSRC, with hopes to accomplish the goal in coming months.